Indiaco Ventures buys 20.83% stake in Laser Cosmetics

Mumbai: Private equity player Indiaco Ventures Ltd on Monday said it has acquired 20.83% stake in Laser Cosmetics Pvt Ltd.

The company has also subscribed 25% in preference shares of Laser Cosmetics, Indiaco Ventures said in a communique to the Bombay Stock Exchange.

The company now holds 1.5 lakh shares of Rs10 each out of the total 7.20 lakh shares and 12,500 preference shares of Rs100 each out of the total 50,000 preference shares of Laser Cosmetics Pvt Ltd.

All the formalities for the acquisition has been completed, Indico Ventures informed.

Indiaco provides capital (investment), direction and operational expertise in distinct asset classes for select identified industry verticals. The company has been recognised by various multilateral agencies and is supported by InfoDev, a World Bank initiative.

Laser Cosmetics Pvt Ltd has clinics operating which are stand alone centres to cater to spectrum of cosmetic surgery services under the brand name of “Maaya”, the company plans to expand across major Indian cities.

Shares in the company were last trading 4.93%, up at Rs638 on the BSE.